Nissin Foods Announces 2023 Q3 Financial Results
HONG KONG, Nov 9, 2023 - (ACN Newswire via SeaPRwire.com) - Nissin Foods Company Limited ("Nissin Foods" or the "Company", together with its subsidiaries, the "Group"; Stock code: 1475) today announced its unaudited third quarter financial results for the nine months ended 30 September 2023 (the "Reporting Period").The Group recorded revenue of HK$2,956.0 million for the Reporting Period. Gross profit increased by 2.8% to HK$1,005.8 million, and gross profit margin increased by 2.6 percentage points to 34.0% from 31.4% (restated) for the corresponding period of 2022. The increase in gross profit margin was mainly attributable to the price adjustments implemented last year and the easing of raw material costs during the Reporting Period. Profit attributable to owners of the Company for the Reporting Period increased by 16.1% to HK$270.4 million, compared with HK$233.0 million (restated) for the corresponding period of 2022.Revenue from Hong Kong and other Asian operations was HK$1,142.1 million. As for the Mainland China operation, due to the depreciation of the Renminbi against the Hong Kong dollar, revenue of HK$1,813.9 million (in local currency: -0.2%) was recorded for the Repor...
